Overview

Increasing returns to scale is an area in economics that has recently become the focus of much attention. While most firms operate under constant or decreasing return to scale on their relevant range of production, some firms produce goods or services with a technology which exhibits increasing returns to scale at levels of production which are large relative to the market. These goods are an important component of economic activity in a modern economy and are typically commodities produced either by a public sector or, as in the U.S., by regulated utilities. In this study, the author analyzes increasing returns using general equilibrium theory to take into account the interactions between production in the public and the private sector, and the effects of financing the public sector on the redistribution of income.

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9780195065534

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'The main contribution of this book lies in the consistency with which the author has analysed increasing returns within the framework of general equilibrium theory ... This is an elegant book which provides a rigorous technical framework for discussing real world problems such as the pricing of public utilities ... a succinct monograph.' Times Higher Education Supplement

`The main contribution of this book lies in the consistency with which the author has analysed increasing returns within the framework of general equilibrium theory ... This is an elegant book which provides a rigorous technical framework for discussing real world problems such as the pricing of public utilities ... a succinct monograph.' Times Higher Education Supplement

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